Terms Used In Texas Special District Local Laws Code Chapter 1080 > Subchapter D - General Financial Provisions

• Accident and health insurance: means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual. See Texas Insurance Code 425.052
• Appointed actuary: means a qualified actuary who is appointed in accordance with the valuation manual to prepare the actuarial opinion required by § 425. See Texas Insurance Code 425.052
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Company: means an entity that:
  (A) has written, issued, or reinsured life insurance contracts, accident and health insurance contracts, or deposit-type contracts in this state and has at least one such policy in force or on claim; or
  (B) has written, issued, or reinsured life insurance contracts, accident and health insurance contracts, or deposit-type contracts in any state and is required to hold a certificate of authority to write life insurance, accident and health insurance, or deposit-type contracts in this state. See Texas Insurance Code 425.052
• Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Life insurance: means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual. See Texas Insurance Code 425.052
• Property: means real and personal property. See Texas Government Code 311.005
• Qualified actuary: means an individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the American Academy of Actuaries' qualification standards for actuaries signing such statements and who meets the requirements specified in the valuation manual. See Texas Insurance Code 425.052
• Reserves: means reserve liabilities. See Texas Insurance Code 425.052
• Rule: includes regulation. See Texas Government Code 311.005
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Valuation manual: means the manual of valuation instructions adopted by the commissioner by rule. See Texas Insurance Code 425.052